Vedanta Fined ₹711.7 Million For Fly Ash Disposal In Odisha

Vedanta Ltd. on Friday said the State Pollution Control Board of Odisha has directed the company to deposit an environmental compensation of ₹711.7 million for allegedly unauthorised disposal of fly ash.

Fly ash is a fine, powder-like byproduct produced during the combustion of coal in power plants.

The company plans to pursue legal recourse, as the order was passed without considering its compliance and submissions, it said in an exchange filing. 

Vedanta said it does not expect any material financial impact from the development.

“The company is hopeful of a favorable outcome thereof and does not expect the said Order to have any material financial impact on the Company,” the filing said. 

On Tuesday, shares of Vedanta were at ₹393.95, up 4% from Friday’s close. Financial markets remained closed on Monday due to Ambedkar Jayanti.